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What is Marketing
Section 1.1
Marketing?
• Most visible business function…
• …least understood business function
• American Marketing Association def. – planning and executing the
conception, pricing, promotion, and distribution of ideas, G&S to
create exchanges that satisfy individual & organizational objectives.
Marketing?
• Is Marketing simply Advertising?
• One of the main objectives of any business (especially in Marketing) is
to take care of the customer’s needs.
Marketing Mix
• The Marketing Mix helps you to take care of almost all marketing
activities.
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Product – what are you offering your customers?
Price – what price are you charging for your product / service?
Place / Distribution – where is your product available to customers
Promotion – how do the customers know about your product / service?
Marketing Mix
• Video on the 4 P’s
Super Bowl Mix
• The Super Bowl is THE sports event of the year
• Describe the Marketing Mix in terms of how it relates to this grand
event:
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Product –
Price –
Place / Distribution –
Promotion
How do you decide?
• There are many things to consider when trying to sell your product(s)
to your customers:
• Discretionary income
• Why is this so important to Sports & Ent. Marketing?
• Price
• Distribution
Cyber Marketing
• With new technologies popping up all the time, live cybercasts of
concerts are viewed and heard all around the world through the
internet.
• Movie companies broadcast movie trailers over the Net and market
movie-related merchandise to consumers.
• To see some of these videos you first have to type some personal info about
yourself.
• How do marketing companies use this info to better promote their products?
Core Standards of Marketing
• EVERY marketing activity includes at least 1 of the following:
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Distribution
Marketing Information Management
Pricing
Product / Service Management
Promotion
Selling